LAS VEGAS, NEVADA -- (Marketwired - Nov. 19, 2013) - Diagnostic Imaging International Corp. (OTCQB:DIIG)(PINKSHEETS:DIIG) announced today that it has filed its 10-Q report for the third quarter of 2013.
The Company is very pleased to report that it has generated record revenues in Q3 2013. The Company is now looking to expand operations through additional acquisitions. The Company will require financing in order to complete additional acquisitions.
For Q3 2013 total Company revenues were $1.322 million. For the nine months ended September 30, 2013 total Company revenues were $3.814 million.
EBITDA for the nine months ending with the third quarter of 2013 was $0.018 per share.
"Our Q3 results demonstrate solid growth for the company following the acquisition of SMI," said Mitchell Geisler, CEO. "We are continuing our hard work on organic growth within the Company, as well as looking for new acquisition opportunities."
Financial Highlights and Breakdowns
For the three months ended September 30, 2013 revenues from teleradiology services was $847,326 compared to $846,043 for the three months ended September 30, 2012, an increase of 0.5% or $1,283. The increase in revenue from teleradiology services of 0.5% was due to a new contract.
For the three months ended September 30, 2013, revenues from medical scans services were $486,197. Due to the acquisition date of December 10, 2012 of SMI, we had no revenue from medical scans for the three months ended September 30, 2012.
For the three months ended September 30, 2013, cost of sales incurred relating to radiology services were $820,487 compared to $690,014 for the three months ended September 30, 2012, an increase of 19% or $130,473. The increase of $140,293 represents three months of operation of SMI, along with a decrease in cost of sales of CTS of 1.5% or $9,820 as a result of the decrease in system costs.
Operating expenses for the three months ended September 30, 2013 and September 30, 2012, totalled $395,178 and $152,628, respectively.
To find out more about Diagnostic Imaging International Corp. (OTCBB:DIIG), visit our website at www.diig.biz.
Diagnostic Imaging International Corp., ("DIIG") owns and operates CTS a Teleradiology company, and SMI an MRI clinic. Teleradiology is the process of assessing radiological patient images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of interpretation and/or consultation. CTS provides remote radiology (teleradiology) technology to hospitals and practices, on-call 24 hours a day, 7days a week. CTS connects clients with a global teleradiology network, providing access to global partner facilities and American and Canadian board-certified radiologists. SMI provides full out-patient MRI diagnostic scans and results, and offers its patients both an open MRI and closed 1.5T MRI depending on needs and requirements.
This news release includes forward-looking statements that reflect Diagnostic Imaging International Corp.'s current expectations about its future results, performance, prospects and opportunities. Diagnostic Imaging International Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Diagnostic Imaging International Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2013 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.